Westpac Banking Corp Decreases Stake in Thermo Fisher Scientific Inc. (NYSE:TMO)

Westpac Banking Corp lowered its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 7.9% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 119,558 shares of the medical research company’s stock after selling 10,229 shares during the quarter. Westpac Banking Corp’s holdings in Thermo Fisher Scientific were worth $35,112,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Truvestments Capital LLC purchased a new stake in Thermo Fisher Scientific in the 1st quarter worth about $29,000. Capital Advisors Ltd. LLC raised its stake in shares of Thermo Fisher Scientific by 250.0% in the second quarter. Capital Advisors Ltd. LLC now owns 140 shares of the medical research company’s stock worth $41,000 after buying an additional 100 shares during the period. Focused Wealth Management Inc bought a new position in shares of Thermo Fisher Scientific in the second quarter worth about $44,000. Farmers & Merchants Trust Co of Chambersburg PA raised its stake in shares of Thermo Fisher Scientific by 168.0% in the first quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 201 shares of the medical research company’s stock worth $55,000 after buying an additional 126 shares during the period. Finally, Bay Harbor Wealth Management LLC raised its stake in shares of Thermo Fisher Scientific by 183.8% in the second quarter. Bay Harbor Wealth Management LLC now owns 227 shares of the medical research company’s stock worth $67,000 after buying an additional 147 shares during the period. 88.21% of the stock is owned by institutional investors.

Thermo Fisher Scientific stock traded up $3.56 during mid-day trading on Tuesday, hitting $275.56. The company’s stock had a trading volume of 85,588 shares, compared to its average volume of 1,615,221. The firm has a market cap of $110.68 billion, a price-to-earnings ratio of 24.77, a PEG ratio of 1.81 and a beta of 1.11. Thermo Fisher Scientific Inc. has a 1 year low of $208.34 and a 1 year high of $305.45. The company has a quick ratio of 1.07, a current ratio of 1.49 and a debt-to-equity ratio of 0.58. The business has a fifty day moving average price of $288.55.



Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings data on Wednesday, July 24th. The medical research company reported $3.04 earnings per share for the quarter, topping the consensus estimate of $3.01 by $0.03. The company had revenue of $6.32 billion during the quarter, compared to analyst estimates of $6.31 billion. Thermo Fisher Scientific had a return on equity of 17.11% and a net margin of 14.24%. The firm’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period in the prior year, the business posted $2.75 earnings per share. As a group, analysts predict that Thermo Fisher Scientific Inc. will post 12.23 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, September 17th will be given a $0.19 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $0.76 annualized dividend and a yield of 0.28%. Thermo Fisher Scientific’s payout ratio is 6.83%.

In related news, CFO Stephen Williamson sold 2,500 shares of the stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $268.29, for a total value of $670,725.00. Following the completion of the transaction, the chief financial officer now directly owns 40,029 shares in the company, valued at $10,739,380.41. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Marc N. Casper sold 50,000 shares of the stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $284.83, for a total value of $14,241,500.00. Following the completion of the transaction, the chief executive officer now owns 342,193 shares of the company’s stock, valued at $97,466,832.19. The disclosure for this sale can be found here. Insiders sold 52,775 shares of company stock valued at $14,986,676 over the last quarter. 0.45% of the stock is currently owned by company insiders.

Several research analysts have recently commented on the company. BTIG Research raised their price objective on Thermo Fisher Scientific to $320.00 and gave the stock a “buy” rating in a research note on Thursday, May 23rd. Wolfe Research assumed coverage on Thermo Fisher Scientific in a research report on Thursday, May 30th. They issued an “outperform” rating for the company. Needham & Company LLC upped their price target on Thermo Fisher Scientific from $315.00 to $321.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Zacks Investment Research upgraded Thermo Fisher Scientific from a “hold” rating to a “buy” rating and set a $299.00 price target for the company in a research report on Wednesday, June 12th. Finally, Credit Suisse Group restated a “buy” rating and issued a $310.00 price target on shares of Thermo Fisher Scientific in a research report on Wednesday, July 31st. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Thermo Fisher Scientific currently has a consensus rating of “Buy” and a consensus price target of $303.17.

Thermo Fisher Scientific Profile

Thermo Fisher Scientific Inc provides analytical and other instruments, laboratory equipment, software, consumables, reagents, instrument systems, chemicals, supplies, and services under the Thermo Scientific, Applied Biosystems, Invitrogen, Fisher Scientific, and Unity Lab Services brands worldwide.

See Also: Trading on Margin

Want to see what other hedge funds are holding TMO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Thermo Fisher Scientific Inc. (NYSE:TMO).

Institutional Ownership by Quarter for Thermo Fisher Scientific (NYSE:TMO)

Receive News & Ratings for Thermo Fisher Scientific Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Thermo Fisher Scientific and related companies with MarketBeat.com's FREE daily email newsletter.